An Unexpected Retailer Now Confirms A Closing Liquidation Sale

April 30, 2024

An unexpected retailer now confirms a closing liquidation sale of up to 30% off items after a long 45 years in business.

Planet Cyclery and Colorado Cyclist are offering up to 30% off apparel, bike parts and accessories.

“Colorado Cyclist has offered high quality bicycle parts and accessories for serious cyclists across North America for over 45 years,” said the liquidators.

B. Riley Retail Solutions announced on Monday that it’s assisting the online closing down sale.

The liquidators described the duo as premium providers of high-quality bikes, components, and clothing for cyclists.

“Both closing sales feature deep discounts across biking gear and equipment, from bikes, wheels, tires and components to apparel, including best-selling helmets, tires, and water bottles,” it added.

However, the sales are available for just a limited time.

“All inventory will be sold within a matter of weeks,” according to the firm.

“Planet Cyclery offers premium brands that are relevant to casual riders and enthusiasts alike,” said Tim Shilling, president of B. Riley.

“Both retailers are known for sourcing premium equipment for dedicated cyclists and are home to some of the best cycling brands.

Enthusiasts should shop these online sales early before inventory sells out,” he said.

Colorado Cyclist was once one of the largest mail-order cycling firms across the United States, reported Bicycle Retailer.

Its base was previously located near Rocky Mountain National Park.

However, it moved to Colorado Springs, before merging with Planet Cyclery in late 2021.

The latter firm was founded 17 years ago by David Kindrachuk, who had previously worked as a scientist for Johnson & Johnson.

There had been high hopes for the success of both websites, on the back of a boom in cycling during the Covid pandemic.

A report released by the Bureau of Transportation Statistics last year showed that spending on bikes and cycling accessories spiraled by 620% between 2020 and 2023.

“Covid-19 triggered a significant increase in household spending on bicycles and accessories,” it said.

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Also Read: A Massive Grocery Chain With 400 Stores Is Now Closing

Other Economy News Today

A massive shoe retailer now announces a new wave of layoffs to hit headquarters this summer, affecting over 700 employees.

Nike has announced its ‘second phase’ of mass layoffs, effective June 28, according to a Worker Adjustment and Retraining Notification (WARN) filing.

A total of 740 employees will be impacted in the retailer’s home state.

The layoffs are part of the 2% workforce reduction Nike announced in February, which is taking place across two phases, the company confirmed via email.

Nike said job titles and the number of employees in each category would be provided at a later date, once the company has determined them.

Bumping rights are not available for the impacted employees, reports Retail Dive.

“Nike’s always at our best when we’re on the offense. The actions that we’re taking put us in the position to right-size our organization to get after our biggest growth opportunities as interest in sport, health and wellness have never been stronger,” Nike said in a statement.

“While these changes will impact approximately 2% of our total workforce, we are grateful for the contributions made by all Nike teammates.”

The layoffs are tied to a cost-savings plan Nike unveiled in December, which is aimed at generating up to $2 billion in cumulative savings over three years.

Based on the company’s last annual report, the layoffs to 2% of its total workforce will impact more than 1,600 people.

Savings from the plan are set to be reinvested in driving growth, innovation and profitability.

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Also Read: A Massive Grocery Brand Now Files For Chapter 11 Bankruptcy

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